AAON, Inc. (NASDAQ:AAON) Stock Position Lowered by Mechanics Bank Trust Department

Mechanics Bank Trust Department reduced its position in shares of AAON, Inc. (NASDAQ:AAON) by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,764 shares of the construction company’s stock after selling 780 shares during the period. Mechanics Bank Trust Department’s holdings in AAON were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP grew its stake in shares of AAON by 39.1% in the 3rd quarter. Wasatch Advisors LP now owns 1,866,746 shares of the construction company’s stock worth $201,310,000 after purchasing an additional 525,132 shares during the last quarter. Millennium Management LLC grew its position in AAON by 212.3% in the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after buying an additional 446,344 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of AAON by 258.8% in the third quarter. Franklin Resources Inc. now owns 330,397 shares of the construction company’s stock valued at $37,014,000 after buying an additional 238,308 shares in the last quarter. Fred Alger Management LLC acquired a new stake in shares of AAON during the 2nd quarter valued at $15,700,000. Finally, Squarepoint Ops LLC bought a new stake in shares of AAON during the 2nd quarter worth $15,687,000. 70.81% of the stock is currently owned by institutional investors.

AAON Stock Performance

Shares of AAON opened at $130.18 on Tuesday. AAON, Inc. has a 52 week low of $69.54 and a 52 week high of $144.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 3.06. The company has a market capitalization of $10.58 billion, a PE ratio of 57.35 and a beta of 0.87. The company’s 50 day moving average price is $128.81 and its 200 day moving average price is $109.34.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. AAON’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. Research analysts expect that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, November 29th were paid a $0.08 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.25%. AAON’s payout ratio is 14.10%.

Insider Buying and Selling

In other AAON news, VP Casey Kidwell sold 4,796 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $136.38, for a total transaction of $654,078.48. Following the transaction, the vice president now directly owns 4,953 shares of the company’s stock, valued at $675,490.14. This represents a 49.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Stephen E. Wakefield sold 5,750 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total value of $804,195.00. Following the completion of the sale, the vice president now directly owns 9,920 shares of the company’s stock, valued at $1,387,411.20. This represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,329 shares of company stock worth $7,663,726. Insiders own 18.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Baird R W raised AAON from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $102.00 to $111.00 in a research report on Tuesday, October 22nd. DA Davidson upped their price target on shares of AAON from $102.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Robert W. Baird lifted their price objective on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AAON presently has a consensus rating of “Moderate Buy” and an average price target of $133.00.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.